Enterprise Products Partners (NYSE:EPD) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Enterprise Products Partners (NYSE:EPD) from a strong-buy rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

Several other research analysts have also recently issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $42.00 target price on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. Melius Research began coverage on shares of Enterprise Products Partners in a research note on Tuesday, September 22nd. They set a “hold” rating and a $42.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on shares of Enterprise Products Partners from $43.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, October 8th. Stifel Nicolaus started coverage on shares of Enterprise Products Partners in a research note on Thursday, September 10th. They issued a “hold” rating and a $40.00 price objective for the company. Finally, Morgan Stanley restated an “underweight” rating and issued a $41.00 price objective (up from $40.00) on shares of Enterprise Products Partners in a research note on Tuesday, August 18th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $40.18.

Enterprise Products Partners Trading Down 2.1%

NYSE:EPD opened at $37.36 on Friday. Enterprise Products Partners has a 1 year low of $30.02 and a 1 year high of $40.17. The stock has a market cap of $80.67 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.35 and a beta of 0.50. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. The stock has a 50-day simple moving average of $37.66 and a 200-day simple moving average of $37.28.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings results on Thursday, October 29th. The oil and gas producer reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. The firm had revenue of $17.95 billion during the quarter, compared to the consensus estimate of $14.98 billion. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%. The firm’s quarterly revenue was up 49.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 earnings per share. As a group, analysts anticipate that Enterprise Products Partners will post 3.11 earnings per share for the current fiscal year.

Enterprise Products Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a $0.56 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.24 dividend on an annualized basis and a yield of 6.0%. Enterprise Products Partners’s payout ratio is currently 74.17%.

Institutional Investors Weigh In On Enterprise Products Partners

Several hedge funds have recently made changes to their positions in the business. N.E.W. Advisory Services LLC bought a new position in shares of Enterprise Products Partners in the second quarter worth $37,000. Hughes Financial Services LLC raised its stake in shares of Enterprise Products Partners by 43.7% during the third quarter. Hughes Financial Services LLC now owns 1,006 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 306 shares in the last quarter. Lynch Investment Planning LLC bought a new stake in shares of Enterprise Products Partners during the third quarter valued at about $36,000. Bravera Wealth lifted its holdings in Enterprise Products Partners by 666.7% in the second quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after purchasing an additional 900 shares during the period. Finally, Markowski Investments acquired a new stake in Enterprise Products Partners in the second quarter worth about $46,000. Institutional investors and hedge funds own 26.07% of the company’s stock.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a North American midstream energy partnership headquartered in Houston, Texas. The company provides infrastructure and services for the transportation, storage, processing and export of energy products, connecting producers with domestic and international markets.

Its operations include pipelines, storage facilities, natural gas processing plants, natural gas liquids (NGL) fractionation facilities, and marine terminals. Enterprise handles NGLs such as ethane, propane, butanes and natural gasoline, as well as crude oil, refined products, petrochemicals and natural gas.